Insurance's new normal: Driving innovation with InsurTech
The pace of change in insurance is accelerating and insurers are increasingly looking to InsurTech to respond to business challenges.
Insurance
The Australian insurance industry provides a broad range of property and casualty, life, and health insurance coverage to individuals and businesses.
The Australian insurance industry provides a broad range of property and casualty, life, and health insurance coverage to individuals and businesses. It acts as an important buffer for the Australian economy, softening the financial impact of events on the public purse by funding claims out of the private sector.
Who we are
PwC has a deep team of insurance industry specialists serving insurers across a wide range of professional services. We are currently helping clients succeed during this period of evolution by advising on strategies around customer engagement and retention, big data and digital technology. We are also active in helping clients with their implementation of risk and capital frameworks that meet LAGIC & ICAAP requirements, with optimising direct and indirect tax outcomes, with enhancing systems and controls effectiveness and efficiency, and with providing independent assurance across financial and regulatory reporting.
How we can work with you
Key to our team's ability to think broadly and differently to help clients is our depth of understanding of what is happening in the industry both locally and abroad. Some of this local understanding is reflected in PwC's Insurance Insights series; quarterly accounting, tax and regulatory updates; and PwC's widely recognised annual Insurance Facts & Figures publication. Examples of our understanding of global trends and how these will impact on the local market are reflected in PwC's Insurance 2020 - The Future of Insurance; Insurance Banana Skins; and updates on IFRS for Insurance Contact updates.
Your team at PwC
Scott Fergusson
Scott Hadfield
Voula Papageorgiou
Rod Balding
Peter Kennedy
Christa Marjoribanks
Jason Slade
Stuart Goddard
Shane O’Sullivan
Sean Colvin
Michael Playford
Publications
Insurance Banana Skins 2017
Key Australian findings from Insurance Banana Skins 2017
IFRS 17
With the new IFRS standard for insurance contract accounting expected in early 2017, we have produced some recent thought leadership that might be of interest. Even with an expected effective date of 2020 or 2021, the long lead time is a reflection of the complexities anticipated around implementation. This publication outlines important things that insurers should be thinking about now.
Data risks of insurance in superannuation - June 2016
For superannuation funds with Group life insurance, managing data can be a complex proposition amidst high regulator expectations.
PwC's Insurance Facts and Figures - May 2016
The insurance industry is as competitive as ever with all elements grappling with the effects of various drivers of change, including changes in social behaviour, developments in technology, long term low economic growth prospects, volatile weather patterns and events, and a continually evolving political and regulatory environment.
Seizing the future - 19th Annual Global CEO Survey/February 2016
This report is a summary of the key findings in the insurance sector, based on a survey of 101 insurance CEOs in 43 countries and in-depth interviews with Peter D. Hancock, President and Chief Executive Officer, AIG (US) and Dr Nigel Wilson, CEO, Legal & General (UK).
Insurance Banana Skins
What risks do insurers face both globally and locally in the current climate and how are they positioning them?
Stopping the leaks - Jan 2015
Improve productivity, customer satisfaction and profitability through better control of claims leakage
Insurance Facts and Figures Asian Region 2013
Asia is an exciting growth story in the global economy and as businesses and economies grow across the region, insurance needs to grow too. This creates opportunities for insurers in their local markets and also beyond their borders
Contact us
Scott Fergusson
Leader - Insurance
Tel: +61 2 8266 7857
Email
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